The Leading eBooks Store Online 4,272,009 members ⚫ 1,419,367 ebooks

New to eBooks.com?

Learn more

A Multi-industry Model of Growth with Financing Constraints

A Multi-industry Model of Growth with Financing Constraints by Anna Ilyina
Buy this eBook
US$ 9.00
(If any tax is payable it will be calculated and shown at checkout.)
This paper develops a multi-industry growth model in which firms require external funds to conduct productivity-enhancing R&D. The cost of research is industry-specific. The tightness of financing constraints depends on the level of financial development and on industry characteristics. Over time, a financially constrained economy may converge to the growth path of a frictionless economy, so long as an industry with the fastest expanding technological frontier does not permanently fall behind due to low R&D. The model’s industry dynamics map into a differences-in-differences regression, in which industry growth depends on the interaction between financial development and industry level R&D intensity.
International Monetary Fund; May 2009
52 pages; ISBN 9781451990294
Read online, or download in secure EPUB or secure PDF format
Title: A Multi-industry Model of Growth with Financing Constraints
Author: Anna Ilyina; Roberto M. Samaniego